In a major expansion of Canada's AI infrastructure, HIVE Digital Technologies subsidiary BUZZ High Performance Computing has announced plans to build a 320 MW AI gigafactory in the Greater Toronto Area. The facility will be one of North America's largest domestically controlled AI clusters.
Costing approximately CAD $3.5 billion, the project is slated to bring its first operations online in the second half of 2027.
BUZZ HPC has acquired a 25-acre land parcel for around CAD $46 million in the Toronto-Waterloo innovation corridor. The facility will host more than 100,000 GPUs and draw 320 MW of utility power, largely from Ontario's low-carbon nuclear and hydroelectric grid. The campus will also feature a sustainable, low-water-use cooling system.
The project is expected to create over 800 construction jobs and hundreds of permanent high-skill positions.
HIVE Digital Technologies built its reputation in Bitcoin mining but is pivoting to high-performance computing and AI infrastructure, branding the effort as "sovereign AI" to address Canada's reliance on US-controlled data centers. The company positions its infrastructure for government agencies, defense contractors, and regulated industries requiring domestic data control.
Key investment considerations include the project's financing structure-whether via equity dilution, debt, subsidies, or partnerships-and execution risk associated with the 2027 timeline and evolving GPU architectures.